City Attorney’s CALoanRefund.org site targets 
Check ’n Go borrowers eligible for $4.3 million in refunds statewide

City Attorney Dennis Herrera launched a website aimed at identifying borrowers of online loans from Check ’n Go who may be eligible for repayments in interest, fees and finance charges.  The website http://www.caloanrefund.org offers access to downloadable claim forms and provides extensive information about the statewide refund program.

Herrera’s Consumer Protection Unit’s civil action alleged that Check ’n Go engaged in an illicit “rent-a-bank” scheme aimed at skirting California’s maximum allowable annual interest rate of no more than 36 percent for that type of loan.  Check ’n Go made online installment loans to California consumers with interest rates as high as 400 percent—far in excess of what state law allows—as late as June 2008. 

Check ’n Go agreed to $4.3 million in refunds to borrowers who obtained online loans between Nov. 2006 and June 2008.  Refunds will range from $20 to more than $4,600 for each eligible claimant.

Check ’n Go claimants may be qualified for refunds if they obtained a four-month installment loan online between Nov. 2006 and June 2008 through the websites: checkngo.com, ilp.fbdel.com, and commandloans.com.  To be eligible for repayment, borrowers must mail a claim form and a copy of the required identification to the settlement administrator, postmarked by March 28, 2013.

For more information:

www.caloanrefund.org
CALoanRefund@sfgov.org
(Toll Free) 1-855-581-2350